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Chairman Graves Responds To The President’s Plan To Raise Taxes On Small Businesses

House Small Business Committee Chairman Sam Graves (R-MO) has released the following statement on the President’s proposal to repeal the Bush-era tax cuts, moments after chairing a hearing on the burden of the current tax code and the difficulty that entrepreneurs have in complying with it:

“With an unemployment rate hovering around 9 percent, it is simply bad policy to raise taxes on the very people who create 7 out of every 10 new jobs - our small business owners. Small business owners, who are largely “pass through” entities paying taxes as individuals rather than as corporations, would see their taxes increase under the president’s proposal. They are demonized as "wealthy", rather than encouraged as risk takers who are investing to create jobs. What our economy needs is comprehensive tax reform that cuts rates for both corporations and individuals, not tax increases.”